Negotiate and sign your contract as SELLER

Include language in your contract to establish your intent to do a tax-deferred exchange

Have your designated "EXCHANGER" prepare the Exchange Agreement

Original Exchange Agreement will be forwarded to the closing agent

Copies of the agreement will be delivered to you for your review

Closing agent will obtain signatures on the Exchange Agreement and other necessary documentation

Once all parties have signed and conditions are met, the transaction is closed

Funds are wired into the Qualified Exchange Account (QEA)

You will have 45 days from the closing of the relinquished property to identify the replacement property

From the time you decide to do an exchange, you should be looking for the replacement property.  Therefore, if you haven't started yet, you should be earnestly looking for the replacement property

For an exchange to be 100% tax deferred, you must acquire replacement property that is of equal or greater value and spend all of the net proceeds from the relinquished property

You must have an Replacement Property Identification Letter, from your "EXCHANGER", before you proceed any further.  The closing date, 45th day to identify the property, 180th closing date and the confirmation of the receipt of funds, and the rules for identifying your property, will also be included

Mail or fax to your "EXCHANGER", the properties identified before midnight of the 45th date

Negotiate and sign your contract as BUYER

Prepare the Addenda to the Exchange Agreement and the Withdrawal Authorization

Original Addenda and Withdrawal Authorization will be delivered to you for your review

Closing agent will obtain signatures on the addenda and the Withdrawal Authorization along with any other necessary documentation

After all parties have signed and upon the closing agent's faxing the withdrawal authorization, the exchange funds will be wired into the closing agent's account

The transaction is CLOSED!!!!